5,900 Shares in Armstrong World Industries, Inc. (NYSE:AWI) Bought by Entropy Technologies LP

Entropy Technologies LP acquired a new stake in Armstrong World Industries, Inc. (NYSE:AWI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,900 shares of the construction company’s stock, valued at approximately $775,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Transcendent Capital Group LLC purchased a new stake in shares of Armstrong World Industries during the third quarter worth about $26,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Armstrong World Industries in the 1st quarter worth about $27,000. V Square Quantitative Management LLC bought a new position in Armstrong World Industries in the 3rd quarter valued at about $31,000. UMB Bank n.a. boosted its position in shares of Armstrong World Industries by 53.7% during the 3rd quarter. UMB Bank n.a. now owns 438 shares of the construction company’s stock valued at $58,000 after purchasing an additional 153 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Armstrong World Industries by 33.0% in the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company’s stock worth $57,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Armstrong World Industries Stock Down 0.3 %

Shares of NYSE:AWI opened at $153.17 on Friday. The business’s 50 day moving average is $136.78 and its 200 day moving average is $124.98. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.98 and a beta of 1.13. Armstrong World Industries, Inc. has a 12-month low of $81.47 and a 12-month high of $157.51. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. The business had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 earnings per share. On average, sell-side analysts forecast that Armstrong World Industries, Inc. will post 6.17 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.308 per share. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.80%. Armstrong World Industries’s payout ratio is presently 21.69%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. UBS Group boosted their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Loop Capital boosted their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Evercore ISI upped their price target on Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Truist Financial upped their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $140.83.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc, together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass wool, metal, wood, felt, wood fiber, and glass-reinforced-gypsum; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings, walls, and facades for use in commercial settings; and manufactures ceiling suspension system (grid) products.